If I we're you, I would definately save up for the Novak Brushless;
At Tower, it's 35$ more than your budget. You'll save money and time and hazzle, compared to a hot mod, which requires comm cutting every 5 runs. Maybe more often, depending on how many (or few!) turns. Not to mention more power and more runtime from a bruchless.
If you also need some more batteries, you can consider to buy some less expensive, since what you gain with a brushless, you dont need to pay for in batteries.
Besides, that TC3 is fast in itself. So it would probably be a killer combo